180 Degree Capital Inc. (NASDAQ:TURN) Q2 2019 Earnings Conference Call August 15, 2019 9:00 AM ET Â Company Participants Kevin Rendino - Chairman, Chief Executive Officer Daniel Wolfe - President, Chief Financial Officer, Chief Compliance Officer Conference Call Participants Adam Walter - Westmore Partners Unidentified Analyst - Daniel Wolfe Good morning and welcome to 180 Degree Capital CorpÂ's second quarter 2019 financial results call. This is Daniel Wolfe, President and Portfolio Manager of 180 Degree C ...

1 Value Creation Through Constructive Activism Q2 2019 Shareholder Call August 15, 2019 Safe Harbor Statement This presentation may contain statements of a forward-looking nature relating to future events. Statements contained in this presentation that are forward-looking statements are intended to be made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to the inherent uncertainties in predicting future results and ...

Q1 2019 Financial Performance - Stock price increased from $1.75 to $1.86, a 6% increase[4] - NAV/Share increased from $2.64 to $2.76, a 5% increase[4] - Stock Price/NAV increased from 66% to 67%[4] - Cash + Liquid Securities increased from $32.7 million to $36.4 million, an 11% increase[4] Portfolio Performance - Public portfolio net value increased by $4.4 million[4] - Significant increases in public portfolio value were led by Adesto (+$1.9 million), TheStreet (+$1.4 million), and Airgain (+$0.7 million)[4] - The largest decrease in public portfolio value was Emcore (-$0.3 million)[4] - The public portfolio gross total return from Q4 2018 to Q1 2019 was 13.6%[26] - The public portfolio weighted average return from Q4 2018 to Q1 2019 was 14.4%[26] Expense Management - Total operating expenses decreased by $28,470, a 4% decrease, from $803,936 in Q1 2018 to $775,466 in Q1 2019[41]

Financial Data and Key Metrics Changes - The company grew its book value by 5% in Q1 2019, entirely driven by the performance of public holdings [6] - The net asset value (NAV) at the end of Q1 was $2.76, up from $2.64 at the end of the previous year, with $0.14 of gains from the public portfolio [9][10] - Operating expenses slightly decreased to $775,000 from $800,000 in Q1 2018, representing a 4% year-over-year decrease [26] Business Line Data and Key Metrics Changes - The public portfolio contributed significantly to NAV growth, with 90% of gains coming from public investments [8] - The private portfolio remained flat during the quarter, contrasting with the previous quarter where it provided a cushion against market declines [7] Market Data and Key Metrics Changes - The Russell Microcap index increased by 13% in Q1 2019, while the company's NAV rose by 5% [7][18] - The company outperformed the Russell Microcap index and the S&P 500, achieving a 14.4% increase in public holdings [11][17] Company Strategy and Development Direction - The company aims to be a leader in public company constructive activism and is focused on generating positive shareholder returns [34] - There is a strategic shift towards increasing public holdings, which now account for nearly 42% of total assets, up from 26% at the end of 2016 [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of the private portfolio, highlighting that 18 of 24 positions are in actively operating businesses [21] - The company is looking for opportunities to monetize private investments to fund public investment strategies [25] Other Important Information - The company sold a convertible bridge note for $230,000 and shares of Phylagen for $25,000, indicating ongoing efforts to monetize private holdings [24] - The management team and board have collectively purchased over 400,000 shares in the last five quarters, aligning their interests with shareholders [33] Q&A Session Summary Question: Appreciation for the hard work and the second quarter update - An analyst expressed gratitude for the management's efforts and specifically mentioned the second quarter update [37] Response: Acknowledgment of appreciation - Management thanked the analyst for the feedback and confirmed the reference to the second quarter update [38][40] Conclusion: No further questions - The call concluded with management thanking participants and indicating they would return for the Q2 update [42][43]

180 Degree Capital Corp (NASDAQ:TURN) Q4 2018 Earnings Conference Call February 26, 2019 9:00 AM ET Company Participants Daniel Wolfe - President, CFO and Chief Compliance Officer Kevin Rendino - Chairman and CEO Conference Call Participants Operator [Call Starts Abruptly] Â…call this morning. All participants are currently in a listen-only mode. Following our prepared remarks, we will open up the line to questions. [Operator Instructions] I would like to remind all participants that this call is being reco ...